Safety in numbers!

I’m realivtily new to this site so i’m not sure if this is already in progress but its another idea just in case.
Right here we go…
instead of everybody working as an individual and trying to takle the market one at at time, asking eachother for help and taking on board a little bit of everyones information, why do we not work together, the idea is kinda of like doing science at school
Just in case you cant remember back that far, heres the low down!

‘if you were doing an experiment in school, you would do a test at least 3 times to make sure the first one wasnt just a fluke, obviously the more times you test something the more accurate the results will be’

now how do we apply this to trading!?
Say if three different people worked together off the same charts, timescale’s and currency pair and gathered all their results together, there would be more of a chance of success, for instance if i studied purely the technical side and i had two others working with me, one that studied purely fundamental analysis and the other that had a mixture of both, all could go away with the same information and apply their skills and techniques and then return later with their conclusion, i might come to the conclusion that it would be best to go long on say… USD/EUR
Where as the other two may decide it best to short
USD/EUR
What this give us now is a conflict of interests? Which is good, because i can now revert back to my chart and maybe spot something that i hadn’t previously noticed, it may be the case that i am delving way too deep into my system, as we all know, the more simple things in life can be over looked, the other two may shed some new light on the whole situation and i may change my mind, or vice verse, but what this creates is a more accurate trading system, others including myself may find it hard to plot fibonacci but some one else may find it easy but them selves find it difficult to spot simple trends, but if everyone stuck together and compared results and decided as a whole that it best to trade in X direction we’d all be much more profitable, its a safe way of trading and if all three do not all agree the trade will not be executed! Or maybe the one’s who do would be a bit more cautious and trade a smaller amount to save from losing, putting doubt into someone mind/ system is good as it will force them refine their skills and learn from mistakes, fair enough there may not be as many trades that are made, but on the other hand, the ones that are traded would most likely rake in a lot more profit and be much more reliable i’d say about a 95% succes rate, i work with a man who used to trade on behalf of the bank of austrlia and as far as i know from what he has said, he was pretty much alone when trading which leaves it down to him to trade for his life/ job!
I don’t know about you but with the support of others and the comfort of knowning that i am more likely to succeed in a trade the better i’d feel!

It’ll be interesting to see what you all think of this
(apologies for the epic novel)
Thanks

It sounds like you have a complete lack of confidence in yourself. There is no reason to RELY on others to be a successful trader.

Find a winning system (I have already given you one) and have the confidence and disclipine to trade it correctly…that’s it. You’re making it WAY to complicated.

Hey pal,

i agree and disagree with petatrader. I agree in the sense that you do need to be able to trade on your own before you can bring something valuable to a group. I agree with you on that trading with others has its plus points.

Trading can get very lonely. having others around to bounce ideas off of is definitely a great thing. Like you mentioned, someone else can see sometihng you do not that would have gotten you into a rotten trade. However id hope that whoever you trade with you two are more in sync then out or else you’ll be missing a lot of trading opportunities.

Im looking for someone to trade with. I do the london session so what i do is come up with my trade setup, I then look on the forums to see what everyone is saying but i only allow that to change my bias if i see it for myself, not just cause someone else said so.
Just like today, i read that someone wanted to short the cable where i wanted to buy it. I didnt feel he was correct and i went ahead with my trade setup and it hit my target for a +57 pipper.

whoever you find i hope it works out bud,

stay pippin.

Woh woh woh hold your horses!

I’m not relying on other people, the idea is to to and irradicate the loss!
Like the science i mentioned, the more times you test something the more accurate the results will be, and the more accurate a bunch of people can be together the better the rate of success and the better the rate of success you have the more confident you could be in the system, which means ultimately, off of even a small account people could risk a larger sum of money and we all know what that means don’t we… Larger profits!
you could even up the leverage with confidence that the trade you just created wouldn’t go sour and rapidly lose you money, indeed you are correct in saying that i have a low self confidence in trading at the moment but that is purely because i do not have the experience to give me confindence!
I thank you for directing me to the system which i shall be studying, and hopefully learn from,
but you can bet your bottom dollar that it will fail and its not even nearly perfect, instead of a 90% success rate, i’m sure the majority would prefer a 95% sucess rate, it was mearly a suggestion, or maybe even a business idea, that is the point of forums, not to just discard ideas! But to debate and share ideas to help the entire comunity get better at what they do, but thanks for your input!

Well keep me in mind and informed jaboo, i’m always open to learning as much info as i possibly can

Thanks

ya…trading with others is a good thing AFTER you are confident in your self and your judgment/system.

As far as the rest…I dunno, I’m going cross eyed with that last post. I make consistant pips with my method, that is the result of many years of trial and error…and disclipine was the final key. I’m just tyring to save some people alot of time, money and heartache by sharing it, and telling them what it takes to be successfull like me. But sometimes people have to learn the hard way I guess. Good luck.

You might try getting into a setting where you can slap on some headphones and trade in a conference settup ,with other traders live.There are sites setup where you can be the host and get small group of your choosing, as long as there willing.This is the way i will be going in the near future when i resume live trading.:slight_smile:

Safety in numbers!

You seek safety in the wrong numbers. The hypothesis that somehow 10 people guessing the same way makes that prediction any better than 1 person guessing the other way doesn’t hold water IMHO.

Many traders try to increase their safety by fine-tuning their entries and exits. They would do well to realize that trading is risky no matter which way they go. [I]Managing that risk[/I] is how to achieve [B]profitability with numbers[/B]. :smiley: